Walgreens sues Theranos, seeks $140M in damages

Walgreens is suing embattled blood testing startup Theranos.

The Walgreens Boots Alliance Inc. unit is seeking $140 million in damages for alleged breach of contract. The amount is equal to what the company invsted in Theranos.

Walgreens claims it was misled by Theranos about the state of its technology when the two companies forged their agreement, people familiar with the matter told The Wall Street Journal.

In a deal announced in September 2013, Theranos ran blood-drawing sites at 40 Walgreens stores in the Phoenix area and one in northern California. Thousands were planned across the United States. In June, Walgreens terminated the partnership after questions arose concerning the quality of Theranos’s proprietary blood-testing devices and lab operations.

Read more from The Wall Street Journal.

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